Humyn.ai has partnered with Dundee Precious Metals to launch a crowd-sourced open data competition looking to fast track the discovery of mineral deposits.

The competition, which will run until May 2024, is a worldwide call for geologists and data scientists to collaborate with the DPM team and develop innovative ways to accelerate mineral discoveries.

Humyn.ai says: “Mineral exploration currently has a less than 1% success rate globally, in terms of discovering new economic orebodies. One of the challenges, especially on the near-mine data rich exploration environment, is the increasingly complex and multi-layered datasets that geologists need to collect and further integrate with already available heterogenous historical data.”

Dundee Precious Metals sees this challenge as an opportunity to work closely with geologists and data scientists, to share industry, technical and site-specific knowledge in order to collaboratively develop an innovative targeting approach applicable in such an environment, Humyn said.

The Future Explorer Challenge comes with the chance to win up to $250,000 in prizes, as well as the prospect of future closer collaboration with the DPM team, Hymun.ai says.

David Rae, President and Chief Executive Officer of Dundee Precious Metals, said: “We are excited to be launching this innovative competition. While the overall objective is the potential discovery of significant new deposits, we are also targeting the opportunity to work with top innovators – both geoscientists and data professionals – to develop new ways of unlocking the value in our data.”

Humyn.ai Founder and Director, Holly Bridgwater, said: “This crowd-sourced data competition will engage a global community of innovators, many of whom have no experience with the mining industry. We can’t wait to see how people with diverse skills from around the world will contribute to solving a hard problem faced by industry.”